Keyera Corp. stock analysis
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Keyera Corp. (KEY) Stock Price & Analysis
KEY Stock Chart & Stats
- Day’s Range
- CAD 50.33 - CAD 51.25
- 52-Week Range
- CAD 40.09 - CAD 61.41
- Previous Close
- CAD 51.11
- Volume
- N/A
- Average Volume (3M)
- 1.08M
- Market Cap
- CAD 14.88B
- Enterprise Value
- CAD 22.70B
- Total Cash (Recent Filing)
- CAD 568.79M
- Total Debt (Recent Filing)
- CAD 8.48B
- Price to Earnings (P/E)
- 36.0
- Beta
- 0.27
- Next Earnings
- Feb 17, 2027 (Est.)
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- Dec 15, 2026
- Dividend Yield
- 4.31%
Bulls Say, Bears Say
Bulls Say
Integrated NGL Infrastructure
The integrated infrastructure network links Western Canadian production with downstream markets and supports multiple fee-generating services. This breadth can improve asset utilization, customer retention and operational coordination, creating a durable platform for recurring cash flows as volumes grow.
Fee-Based Earnings Strength
Strong fee-based results and record Liquids Infrastructure margins indicate that the expanded platform is generating meaningful earnings beyond commodity exposure. Durable performance from legacy and acquired assets can support reinvestment, dividends and financial improvement over the coming quarters.
Synergies And Contracted Growth
Synergies already near the first-year target provide identifiable earnings support, while contracted capacity expansion adds visible growth. Together, these initiatives improve the acquired platform's economics and increase the likelihood of sustained infrastructure growth rather than relying solely on market conditions.
Bears Say
Weak Cash Conversion
The sharp deterioration in operating cash flow and negative free cash flow show that recent earnings are not translating into surplus cash after capital needs. If sustained, weaker cash generation could constrain debt reduction, distributions and internally funded growth over the next several quarters.
Elevated Leverage
Leverage has improved from 2025 but remains elevated relative to equity, reducing financial flexibility while the company funds major projects. The extended timeline to return to target leaves Keyera more exposed to operating setbacks and limits capacity for additional capital allocation.
AEF Reliability Risk
Repeated heat-exchanger deterioration and planned outages create a persistent operational headwind for utilization and marketing earnings. Although remediation is scheduled, the timing means AEF could continue weighing on results through the next several quarters and has an identified $85 million 2027 headwind.
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Keyera Corp. Stock Smart Score
Company Description
Keyera Corp.
Keyera Corp. specializes in energy infrastructure within Canada, structured around three core operational divisions. Its Gathering and Processing segment is responsible for acquiring and refining raw natural gas through its network of pipelines and processing plants. This involves collecting the gas, removing impurities, and separating valuable components like natural gas liquids (NGLs), in addition to providing condensate handling. This division encompasses approximately 4,400 kilometers of gathering pipelines and interests in 12 active gas plants situated in Alberta. The Liquids Infrastructure segment delivers comprehensive services for NGLs and crude oil, covering everything from collection, processing, and fractionation to storage, transport, blending, and terminal services. This is supported by a robust network featuring underground NGL storage caverns, above-ground tanks, NGL fractionation and de-ethanization facilities, pipelines, and rail and truck terminals, including the Alberta EnviroFuels facility where it produces iso-octane. The Marketing segment focuses on the sale of propane, butane, condensate, and iso-octane, alongside various liquids blending activities. Founded in 2003 and originally known as Keyera Facilities Income Fund, the company adopted the name Keyera Corp. in January 2011 and maintains its headquarters in Calgary, Canada.
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- CEO
- C. Dean Setoguchi
- Employees
- 1,257
- Website
- www.keyera.com
- Address
- The Ampersand, Calgary, AB, T2P 3N4, CA
Keyera Corp. (KEY) Earnings & Revenues
KEY Earnings Call
Earnings Call SentimentPositive
The call was predominantly positive. Keyera reported strong fee-based performance, record Liquids Infrastructure margin, Plains synergies ahead of target, favorable project execution and raised 2026 marketing guidance. The main challenges were AEF reliability and associated outages, the quarterly net loss, Line 5 and turnaround disruptions, and leverage remaining above the long-term target range. Management expressed confidence in the AEF remediation plan and expected deleveraging trajectory.
View all TSE:KEY earnings summariesKEY Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 5 | 3 | 14 |
| Technical Analysis | 5 | 3 | 2 |
| Moving Averages | 0 | 0 | 12 |









